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作者：Law, Kelvin K. F.; Mills, Lillian F.
作者单位：Nanyang Technological University; University of Texas System; University of Texas Austin
摘要：Users of Exhibit 21 cannot tell whether a tax haven subsidiary is actively operating or a dormant shell company. In this paper, we develop a new set of parsimonious measures to highlight the distinct mechanisms and tax effects of offshore sales to, as opposed to purchases from, tax haven countries, offering insights on the effects of certain types of offshoring activities on firms' tax burdens. Our main measure has about three times the effect of the mere existence of a haven subsidiary in exp...
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作者：Monsen, Brian R.
作者单位：University System of Ohio; Ohio State University
摘要：Despite the considerable participation of Big 4 accounting firms in accounting standard setting, there is no systematic evidence on what factors shape Big 4 support or opposition toward proposed accounting standards or whether their lobbying positions materially influence standards. Using textual features of Big 4 comment letters on FASB proposals, I find that Big 4 firms??? lobbying positions reflect profit motives through support for standards that will generate more fees or are supported by...
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作者：Laux, Volker
作者单位：University of Texas System; University of Texas Austin
摘要：This paper studies the effects of allocating control rights to lenders via debt covenants when managers can sometimes misreport the accounting information on which the covenants are based. When contract renegotiation is exogenously prohibited, including a covenant in the contract is ex ante optimal because it increases both the probability that poor projects are liquidated and the manager's effort incentive. When the parties can renegotiate the contract, the results can flip: granting the lend...
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作者：Baudot, Lisa; Kelly, Khim; McCullough, Aaron
作者单位：State University System of Florida; University of Central Florida
摘要：Socializing personnel into accepting work hour norms has been fundamental to how accounting firms function, but is now challenged by contemporary work perspectives. Using 40 semi-structured interviews of personnel across hierarchical levels at a national firm and an international firm, we show how strangeness and contradiction expressed in work hour perspectives across different levels within both firms are reconstructed as compatible and complementary. Highlighting various firm adaptations, i...
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作者：Comprix, Joseph; Lopatta, Kerstin; Tideman, Sebastian A.
作者单位：Syracuse University; University of Hamburg; University of Exeter
摘要：We investigate the role of gender on the aggressiveness of sell-side analysts' questions during earnings conference calls. Our tests reveal that the verbal aggressiveness of analysts' questions is significantly associated with both the gender of the analyst asking the question and the gender of the CEO fielding the question. First, we find that male analysts are more verbally aggressive than female analysts. Specifically, male analysts' questions are more direct and more likely to be followed ...
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作者：Carrizosa, Richard D.; Cazier, Richard A.
作者单位：University of North Carolina; University of North Carolina Charlotte; University of North Texas System; University of North Texas Denton
摘要：Prior research documents a negative stock price reaction to initial securities lawsuit filings, on average. Prior research provides no evidence, however, regarding whether and how the market prices information subsequently generated by the litigation process. We examine the market response to a large sample of initial plaintiff complaints and subsequent docket events. Our results are consistent with the market pricing information about issues both systemic to the firm and specific to the pendi...
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作者：Chan, Derek K. W.; Liu, Nanqin
作者单位：University of Hong Kong; Southern University of Science & Technology
摘要：This paper presents an economic framework to study strategic interactions along the analyst-auditor -owner disciplinary chain, in which the auditor examines the financial reports prepared by the owner, and the analyst uncovers financial misreporting, as well as audit failure. We find that although analyst scrutiny ex post detects misreporting, it ex ante aggravates the owner's misreporting behavior and further impairs financial statement reliability if the legal penalties for the auditor and t...
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作者：Kaplan, Zachary; Perez-Cavazos, Gerardo
作者单位：Washington University (WUSTL); University of California System; University of California San Diego
摘要：We provide evidence that dividends signal sustainable earnings generated by assets-in-place for firms with weak investment opportunities. In the cross-section, both dividend levels and changes contain more earnings information among firms with weaker investment opportunities. Intertemporally, when aggregate investment opportunities in the economy are worse, dividend changes convey more earnings information. In contrast, dividends have a more negative association with investment spending for fi...
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作者：Proell, Chad A.; Zhou, Yuepin (Daniel); Nelson, Mark W.
作者单位：Texas Christian University; University of Illinois System; University of Illinois Urbana-Champaign; Cornell University
摘要：Auditors work in hierarchical teams in which effective upward communication is critical to audit quality. In these teams, subordinates choose both the content, as well as the style, of their communications. We report survey and experimental evidence of the importance of communication style in the context of audit team culture. Our first two studies provide evidence that audit staff perceive assertive upward communication as risky and prefer to communicate passively, especially in less autonomo...
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作者：Dechow, Patricia M.; Larson, Chad R.; Resutek, Robert J.
作者单位：University of Southern California; University of Houston System; University of Houston; University System of Georgia; University of Georgia
摘要：We investigate the impact of the mixed attribute GAAP measurement model on accrual quality inferences. GAAP rules vary from an income statement matchingfocus to a balance sheet fair-valuefocus. Accrual properties are also affected by the business activity being measured and the activity's recurrence. Furthermore, accrual measurement is affected by managerial estimation error/manipulation. As a consequence, accruals are heterogeneous with predictably different statistical properties. We constru...
